Restockers have paid close to 1000 cents a kilogram for lambs to put back into the paddock as they banked on prices staying relatively high heading into autumn.
Prime lamb sales have, however, kicked off the year erratically as the national livestock lamb indicator closed 51c/kg down on Monday to finish at 887c/kg carcase weight.
Last week's offering on AuctionsPlus saw light, mixed lambs sex lambs, 12 months old, making $102 to $149 a head.
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It was a similar story in the saleyards according to agents who said the rates reflected feed and demand.
An example of prices in the south are woolly suckers weighing 13 kilograms to 15kg which made $140 to $158 all day long, or between 900-1000c/kg.
Looking at the big picture, rates were like this last year where producers who spent at this level were rewarded with good prices through the late autumn and winter.
At present, prices are bouncing around from week-to-week.
Who knows how the finished lamb prices will trend moving forward.
After a huge spring and plenty of rain through summer, a lot of Australia is looking to restock.
The interest to restock is spread across both sheep and cattle.
The lamb job looks more attractive to some people as there is a shorter time frame in terms of turnaround.
Most producers looking to purchase store lambs are spreading their risk over several sales rather than be exposed to one extreme market.
Price variations crept into opening markets on Monday but overall rates strengthened slightly on the back of reduced supplies of quality types.
Bidding was erratic at Bendigo, according to Meat & Livestock Australia's National Livestock Reporting Service.
The were cheaper and dearer patches throughout the trade and heavy lamb categories during the central Victorian market.
The best trade lambs to supermarkets and niche domestic orders sold slightly dearer to average 812c/kg cwt.
A shortage of good heavy export lambs helped kick rates along $3 to $7 a head.
Lambs 26kg and heavier sold from $210 to $285 to average 740-776c/kg cwt.
There was little change in restocking lambs with weight and frame as prices ranged from $155 to $178.
Lamb numbers were down by 3754 head to 24,831 at Ballarat's regular sheep sale this week.
Quality was very good with a fair percentage supplementary fed.
The market fluctuated continually leaving the best trade lambs unchanged.
Meanwhile, woolly types slipped back $4 to average 804c/kg cwt.
Heavy lambs improved $1 and made anywhere between $208 to $300.
Sheep rates rallied $25, averaging 570-623c/kg cwt.
- Leann Dax is an NLRS market reporter.
